SBA Loan from First Peoples Bank Helps Water, Sewer, And Utility Lines Company

First Peoples Bank and the SBA work together to get business loans for growing small businesses. Here's an example of how a Florida entrepreneur was able to get a loan to take a small business to the next level.

The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Port St. Lucie, Florida was able to borrow $89,500 from First Peoples Bank. The SBA made the loan possible by guaranteeing $71,600 of this Florida small business loan.

SBA Loan Borrower

COMPANY TYPE: WATER, SEWER, AND UTILITY LINES
PORT ST. LUCIE, FL 34953

SBA Loan Lender

FIRST PEOPLES BANK
1301 SE PORT ST LUCIE BLVD
PORT SAINT LUCIE, FL 34952

This was a LowDoc (Low Documentation Loan Program). LowDoc is one of the SBA's most popular programs because there is a simple, one-page SBA application form and rapid turnaround on loan approvals.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

1623 - Water, Sewer, and Utility Lines

NAICS Code

234910 - Water, Sewer, and Pipeline Construction

Loan Approval Date

10/20/2000

Loan Approval Gross Amount

$89,500

Loan Approval from the SBA

Of the total $89,500 loan amount, the SBA guaranteed $71,600.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application did not indicate that the small business promised to use the funding to add employees or retain any existing employees.

Next Steps for Getting an SBA Loan

SBA loans make it possible for banks to offer loans more easily and provide them with more flexible terms than conventional loan options.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. First Peoples Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, First Peoples Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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